What happened? Japanese shares fell on Monday…
NZD/JPY reversed from support zone
2019-11-11 • Updated
- NZD/JPY reversed from support zone
- Next buy target - 77.50
NZD/JPY recently reversed up from the support zone lying between the key support level 76.20 (which has been reversing the price from the middle of November) and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star. NZD/JPY is likely to rise further toward the next buy target at the next resistance level 77.50.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700
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